He said the 2020 Budget was likely sufficient to support the economy with “sensible” approaches made by the government.
“The 2020 Budget is very sensible and the debt rating is also important to access capital market, to stimulate growth in the local economy,” he added. “This is a good range because other countries record lower single digit growth. Malaysia is generating consistent growth about 4.0 per cent, which is quite positive despite the headwinds around trade and protectionism,” he said.
HSBC’s global survey ‘Navigator: How, next and how’ revealed local businesses’ optimism about growth prospects had strengthened over the past 12 months. The report showed business growth in the near term was expected to be driven by improving productivity, investment in technology and entering new markets.
“Malaysian companies are much focused on the adoption of robotics. Many factories in Malaysia employ foreign workers and clearly the government tries to convince businesses to invest in robotics, thus reducing the reliance of manual labour which in turn make Malaysia up the value chain,” he said.
NgaKorMing We just need to decorate our trees with billionaires
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